A new suitor has emerged in the quest to purchase the Phoenix Coyotes.

A source familiar with the situation confirmed to FOX Sports Arizona late Wednesday that AltaCorp Capital chairman and CEO George Gosbee is working with long-involved suitor Anthony LeBlanc on a proposal that will be presented to the NHL shortly. The two are part of what the source believes is the lead group in the attempt to purchase the long-rudderless franchise.

Darren Dreger of TSN reported Wednesday night that the NHL is continuing to fight to keep the club in Glendale, but short of a deal soon, a decision to relocate the Coyotes to another city could come before the playoffs begin April 30. Quebec City, Seattle and Kansas City are among the cities mentioned as possibilities.

According to the source, Gosbee and LeBlanc are working on a deal that would keep the Coyotes in Glendale, and although it is expected that any group purchasing the team would seek an out clause to relocate the team if it cannot remedy the franchise’s long-standing financial issues, the source said “that hasn’t been discussed” to this point.